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Donald Trump’s approval of the transition, that is, normality and the peaceful transfer of power, has induced new growth in the capital markets. The Dow Jones Industrial Average passed the 30,000 mark for the first time in history on Tuesday.
The peak before the pandemic, recorded in February, was just over 29,500 points. Compared to the drop in March, when it had entered below 20,000 points, it is an increase of more than 50%.
At least, there have been steady increases lately, generated either by the clarification of the US elections or by all good news about a vaccine. The US stock market has hit an all-time high, although the economy is far from that happy. Analysts estimate that the recovery of the economy to the pre-pandemic level will occur at the earliest in a year.
The new York Times writes that Wall Street, which is rising for the second day in a row, is also reacting to the news that President-elect Joe Biden will appoint Janet Yellen, former head of the Federal Reserve, as head of the Treasury.
Editor: Luana Pavaluca
